ASM Capital, LP et al v. Okun et al

Filing 27

STIPULATION AND ORDER TO STAY CASE AGAINST THE CORDELL DEFENDANTS PENDING CONSUMMATION OF CLASS SETTLEMENT re 25 Proposed Order filed by ASM Capital, LP. Signed by Judge Phyllis J. Hamilton on 2/2/12. (nah, COURT STAFF) (Filed on 2/2/2012)

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1 2 3 4 5 Robert L. Brace, Esq., SBN 122240 Email: rlbrace@hbsb.com HOLLISTER & BRACE P.O. Box 630 Santa Barbara, CA 93102 Telephone: (805) 963-6711 Facsimile: (805) 965-0329 Attorneys for Plaintiffs UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF CALIFORNIA OAKLAND DIVISION 6 7 8 9 ASM Capital, LP, et al. 10 Plaintiffs, 11 12 v. EDWARD H. OKUN, et al. 13 Case No. C 11-04825 PJH Assigned to the Hon. Phyllis Hamilton STIPULATION TO STAY CASE AGAINST THE CORDELL DEFENDANTS PENDING CONSUMMATION OF CLASS SETTLEMENT; [PROPOSED] ORDER Defendants. 14 15 16 17 The ASM Plaintiffs and the Cordell Defendants1 (collectively, “the Parties”) hereby stipulate to stay this matter as follows: 18 09-2079 Another action entitled Hunter, et al. v. Citibank, et al., Case No. C 09-2795 JW 19 (“Hunter II”) is pending before Judge James Ware. Hunter II, which was filed as a class action 20 and names the Cordell Defendants, and alleges the same facts as those alleged in the above- 21 captioned matter, ASM Capital v. Edward Okun, et al., Case No.C 11-4825 PJH (hereinafter, 22 “Hunter III”). 23 This case, Hunter III, was filed against the Cordell Defendants after Judge Ware denied 24 25 26 27 28 1 The Cordell Defendants include: CORDELL FUNDING, LLLP, a Florida Limited Liability Limited Partnership; CORDELL CONSULTANTS, INC., a New York Corporation; CORDELL MONEY PURCHASE PLAN, a QUALIFIED RETIREMENT PLAN TRUST; CORDELL CONSULTANTS, NEW YORK, LLC, a New York Limited Liability Company; ROBIN RODRIGUEZ, an individual and such other Cordell entities controlled by Robin Rodriguez. 1 STIPULATION TO STAY CASE AGAINST THE CORDELL DEFENDANTS, PENDING CONSUMMATION OF CLASS SETTLEMENT; [PROPOSED] ORDER 1 class certification in Hunter II. After denying class certification based on a contested motion, the 2 Plaintiffs in Hunter II and the Cordell Defendants entered into a settlement agreement, which 3 conditions the settlement on class certification. 4 5 On December 2, 2011, the Plaintiffs in Hunter II filed a Motion for Preliminary Approval 09-2079 of their settlement with the Cordell Defendants (see Case No. C 09-2795, Dkt. 587). If the Court 6 grants preliminary approval of the settlement, if there are no opt outs, and the Court grants final 7 approval of the settlement, then the Hunter II case will be concluded. The conclusion of the 8 Hunter II case will also conclude this case (Hunter III) as to the Cordell Defendants. 9 Therefore, in the interest of saving the court’s resources, the Parties request that this 10 matter, as to the Cordell Defendants only, be stayed until the conclusion of the settlement 11 approval process. If the settlement is consummated, this case will be dismissed as to the Cordell 12 Defendants. If the settlement is not consummated, the Parties shall notify the Court, at which 13 time the Parties will request the Court to lift the stay. 14 15 IT IS SO STIPULATED. 16 HOLLISTER & BRACE 17 18 Dated: January 31, 2012 By: 19 /s/ Robert L. Brace Attorneys for the ASM Plaintiffs 20 21 GILBERT PA YARNELL PLLC 22 23 24 Dated: January 31, 2012 By: /s/ Irwin Gilbert Attorneys for the Cordell Defendants 25 26 27 28 2 STIPULATION TO STAY CASE AGAINST THE CORDELL DEFENDANTS, PENDING CONSUMMATION OF CLASS SETTLEMENT; [PROPOSED] ORDER 1 2 3 DECLARATION PURSUANT TO GENERAL ORDER 45, § X.B I, Robert L. Brace, hereby declare pursuant to General Order 45, § X.B, that I have obtained the concurrence in the filing of this document from the other signatory listed below. I declare under penalty of perjury under the laws of the United States of America that the foregoing declaration is true and correct. 4 Executed on January 31, 2012, in Santa Barbara, California. 5 6 HOLLISTER & BRACE 7 8 By: 9 10 11 /s/ ROBERT L. BRACE P.O. Box 630 Santa Barbara, CA 93102 Telephone: (805) 963-6711 Attorneys for the ASM Plaintiffs 12 13 14 15 [PROPOSED] ORDER Pursuant to the stipulation entered into by the Parties, and good cause appearing, it is 16 HEREBY ORDERED that this litigation is stayed against the Cordell Defendants. 17 18 IT IS FURTHER ORDERED that the Parties will notify the Court when the settlement in 09-2079 the Hunter II class action (Case No. C 09-2795 JW) has been finalized, at which time the case 19 against the Cordell Defendants will be dismissed. If the settlement is not consummated, then the 20 stay will be lifted and the matter shall proceed against the Cordell Defendants. 21 IT IS SO ORDERED. RT 27 Ju ER R NIA A H 28 amilton llis J. H dge Phy NO 26 HON. PHYLLIS RED ORDE HAMILTON IS S STATES DISTRICT JUDGE UNITED O IT FO 25 2/2/12 LI 24 UNIT ED 23 S DISTRICT TE C TA RT U O S 22 N F C 3 D IS T IC T O R STIPULATION TO STAY CASE AGAINST THE CORDELL DEFENDANTS, PENDING CONSUMMATION OF CLASS SETTLEMENT; [PROPOSED] ORDER

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